president obama released a statement this morning saying, quote, this agreement is the right thing to do for our country and the house should pass it without delay. he promises to do more to reduce the deficit. that fight like low to begin within weeks as republicans demand spending cuts in exchange for raising the debt ceiling. juliet, brian, steve, happy new year. >> steve: thank you very much. i believe this could be the very first live shot from the white house. wendell, technically, because the house has not yet passed it, technically we've sailed off the cliff, right? >> we are off the cliff now. you feel you're in free fall? >> steve: a little bit. thank you, sir. >> juliet: thanks. congratulations on the first live shot. >> steve: indeed. >> brian: what is in this bill? as wendell just said, receipts go over a few things. taxes do go up for singles, individuals who make 400,000 and above. for couples who make 450,000 and above. dividend and capital gains taxes rise from 15% to 20%. if you happen to die, you are going to be given up 40% if your estate is worth more than 5 milli